What is a balance sheet?
The balance sheet is your business's financial snapshot at any particular time. This statements shows total assets, total liabilities, and total equity.
Need to create a balance sheet?
No problem, Less Accounting does the work for you.
To generate your Balance Sheet, go to:
Reports
Balance Sheet
Select Custom Date Range
Submit
You can always choose to print or download your report by selecting the appropriate option at the bottom of the report on the screen.
You will find highlighted in this report:
Total Assets: Everything you own or control.
Total Liabilities: Everything you owe.
Total Equity: Your total ownership or interest in the business
Remember, for Balance sheets to be accurate, your bookkeeping needs to be up to date.